The members of CCP12 – The Global Association of Central Counterparties – decided at its Special General Meeting (SGM) on October 16, 2015 to register the Association as a non-profit organization in China (Shanghai) Pilot Free Trade Zone. The global association of the world’s major clearing houses met in Singapore on the sidelines of the SIBOS conference.
CCP12 members have consistently argued for the association to play a more significant role in global discussions pertaining to our business over the past several years. As Shanghai has a favourable financial environment and is an international financial centre, the decision to register in the China (Shanghai) Pilot Free Trade Zone was supported by the membership.
CCP12 Vice-Chairman Glenn Goucher, TMX Group (Canada) said: ”This is a significant milestone in the evolution of CCP12 as an organization, and I look forward to the upcoming period as we continue to develop our supporting infrastructure to promote the contribution of CCPs to safer, more efficient and transparent global financial markets.”
XU Zhen, Chairman of the Board of Shanghai Clearing House said: “Currently, with accelerating RMB internationalization and more financial innovation and opening up in the development of Shanghai international financial center and China (Shanghai) Pilot Free Trade Zone, China’s financial market is gradually integration with the global market. The registration of CCP12 in Shanghai will help the association to play a more significant role in the global finance market.”
